Invesco Taxable Municipal Bond ETF Hits Oversold Levels
Shares of the Invesco Taxable Municipal Bond ETF (Symbol: BAB) fell to an oversold status during Tuesday’s trading, dropping as low as $25.815 per share. The Relative Strength Index (RSI), a popular momentum indicator on a scale from zero to 100, helps identify such conditions. Typically, a stock is defined as oversold when its RSI falls below 30.
Currently, the Invesco Taxable Municipal Bond ETF has an RSI reading of 29.9, which signifies a significant selling trend. In comparison, the S&P 500 index shows a higher RSI at 39.5.
Investors who are particularly optimistic might see this 29.9 reading as an indicator that intense selling is beginning to fade, potentially creating a buying opportunity.
Examining the one-year performance chart below, the Invesco Taxable Municipal Bond ETF has a 52-week low of $25.6099 per share and a high of $28.1199. The most recent trading price stands at $25.84, showing a slight decline of about 0.2% for the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
